Our Service

Algoa will find suitable tenants, and obtain all the necessary references. A Tenancy Agreement will be prepared, and we will arrange for all parties to sign.

Deposit: We will collect a deposit equal to 6 weeks rental, to be held until the end of the tenancy. At that time we will assess and negotiate any dilapidations and with each party’s consent, will refund accordingly.

Occupation: Algoa will make all the arrangements to ensure occupation is smooth and trouble free.

Utilities: We will inform the landlord and/or the tenant of the relevant authorities to be contacted regarding the transfer and/or readings of Council Tax, gas, water, telephone and electricity at the commencement and termination of the tenancy.

Inventory: We arrange, on behalf of the Landlord, the services of an independent inventory clerk for the take, check-in and check-out. We cannot be held responsible for any error or omission on their part and cannot act as arbitrator in any dispute. The cost of the inventory take and check-in is usually borne by the Landlord. The cost of the inventory check-out is usually borne by the Tenant.

Cleaning: We will arrange, on behalf of the Landlord, the services of a professional cleaner before handing over the property to the Tenant.

Maintenance: We will arrange and co-ordinate any of the day-to-day repairs and maintenance of the property. In many cases, Algoa will use our own in-house trades.

Visits: Properties will be visited approximately every 6 months to assess any maintenance issues, and to confirm that the tenants are looking after the property properly. Additional visits can be arranged on request

Rent Collection: We will collect the rent and account to the Landlord on a monthly basis. We will remit the rent less any deductions for commission, management expenses, service charges, ground rent, bills, disbursements, tax etc.

Guarantees: Guarantees issued by the manufacturers of products installed by Algoa are retained on behalf of the Landlord.

End of Tenancy: At the expiration or sooner of the tenancy, Algoa will assess the cost of any alteration or damage to the property on the basis of the check-in/check-out reports. Algoa will advise on any deductions to be made from the security deposit.

Tax: If you are a resident outside the United Kingdom at any time during the term of the tenancy, under current legislation we are obliged to deduct tax from the rent at the relevant rate. There is, however, provision for you to receive rent gross if you obtain the Inland Revenue’s formal acceptance to the Non Resident Landlords Scheme and Self Assessment Scheme.

Permissions: If the Landlord’s property is leasehold he must ensure that: Any intended letting is permitted by the terms of the Landlord’s Head lease. Any tenancy is for a period expiring prior to the termination of the Landlord’s Head lease. The written permission of the Landlord’s Head Leaseholder, if required, is obtained.

If the property to be let is subject to a mortgagor: Permission is obtained from the mortgagor. Authority is obtained in writing from any joint Landlords who must be named in the Tenancy Agreement.

The Landlord must notify his buildings and contents insurers that he is letting his property.

Fees

Letting only: 11% of the annual rental, payable on signing of the Tenancy Agreement.

Management only: 6% of the annual rental, with a minimum charge of £60.00 per month. This fee will be deducted monthly from the gross rent collected.

Letting and Management: 16% of the annual rental.

Non-Resident Landlord: £40 per annum to cover additional administration costs.

Where VAT is applicable it will be charged at the appropriate rate.

For further details contact us.

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